金融英语证书考试（FECT）Exercises-2（1）

会计考友

　　1.Usually the low interest rate currency trades at a ______ to the high interest rate currency in the forward market。
* N$ \5 x  _; L; S# E# g　　A.premium
　　B.par
　　C.discount
　　D.bar
! ?3 d& u, ~5 G7 w　　2.Which of the following statements about standby letters of credit is true？ ______。
; L, D6 m9 g* F1 v　　A.They can serve as a guarantee to a buyer against a seller defaulting
　　B.They are contrary to the general rule that letters of credit may only be used for the actual movement of goods
( K+ \9 I( v4 b  M- p0 f　　C.They are unlike a tender （or other） bond in their legal standing and method of operation
　　D.They are unlike a tender bond with its fixed expiry date
　　3.The most liquid of all assets is ______。
　　A.the stock of commercial banks
" U8 s8 ~3 @3 L) M8 k! U( ]2 S* r　　B.M 1
2 J+ L8 V6 O' q( k: z! M/ q　　C.intelligence
9 E0 o: b$ ?; D8 n7 Q& s7 a　　D.the debt of major corporations
) b  Q: {7 x9 n" {! E  B# N　　4.Beta and standard deviation differ as risk measures in that beta measures ______。
　　A.only unsystematic risk， while standard deviation measures total risk
5 f* @/ p% U% P& U6 N# r　　B.only systematic risk， while standard deviation measures total risk
* P' P  D! D/ J7 y1 t, p+ _　　C.both systematic and unsystematic risk， while standard deviation measures only unsystematic risk
　　D.both systematic and unsystematic risk， while standard deviation measures only systematic risk
% o8 [$ z7 v5 l9 k# X　　5.What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements？ ______。
* D) a, x+ Y% ~" O　　A.Cash provided by or used in financing activities
　　B.Cash balance at the end of the period
　　C.Total liabilities due to creditors at the end of the period
　　D.Net income
) {9 a2 l& R( y; b9 R* ]8 H$ q　　6.An analyst estimates that a stock has the following probabilities of return depending on the state of the economy：
5 ?6 @8 n7 a  f3 O* r$ _; C, ~　　State of economy Probability Return
* A$ R8 V$ m2 d8 y* Z. _0 t, J　　Good　0.1　15%
5 X3 r. |0 i) E5 S; `3 q　　Normal　0.6　13%
( ^& `$ |8 v, M: ?& f. b　　Poor　0.3　7%
　　The expected return of the stock is ______。
. j* Q* \! U6 q* Z, D$ L　　A.7.8%　C.11.7%
　　D.13.0%
　　B.11.4%
　　7.According to the rules of debit and credit for balance sheet accounts ______。
0 U+ j6 R/ X3 N: E1 J+ \　　A.increases in asset， liability， and owner's equity accounts are recorded by debits
: \% E5 K6 g0 E  r1 ]/ |! U' r　　B.decreases in asset and liability accounts are recorded by credits
　　C.increases in asset and owner's equity accounts are recorded by debits
: W# p' Q- G" U4 ?. P　　D.decreases in liability and owner's equity accounts are recorded by debits 265
0 t$ \- \; R0 l5 Z. |7 ^　　8.Individuals will accept the medium of exchange in return for goods and services only if they are confident that ______。
　　A.the inflation rate is zero
　　B.it possesses intrinsic value
. t& k" m, X% P! p+ [3 \7 n- d. {　　C.they can pass it on to others
( L) E. p& u* O; y　　D.they can exchange it for gold
9 b+ g; J7 h: o( w; H  b　　9.When a country's currency appreciates， the country's goods abroad become ______ and foreign goods in that country become ______。
3 i) b% E5 G/ {　　A.cheaper...more expensive
' s+ {  j9 n. M$ ?; }6 M　　B.more expensive...cheaper
7 m/ h' S; ?' B& d  ~　　C.cheaper...cheaper
  v4 O3 B( E: y　　D.more expensive...more expensive
　　10.A US company is bidding for a contract in China.Its Chinese customer asks for a performance bond.What is the most likely course of action？ ______。
　　A.It asks its bank to issue a tender bond which can be converted into a performance bond
　　B.It gives up its bid C.It consults its bank about issuing a standby letter of credit
# e. w* t" _0 t3 R　　D.It asks its bank to issue a performance bond